Neil Cavuto interviews Republican congressman Joe Knollenberg of Michigan.
After the less than stellar system set up for the original bailout, the auto industry and Detroit are asking for another bailout with taxpayer dollars to prop up the ailing industry.
My opinion of the auto bailout is that it is outrageous. It is unacceptable and we should NOT use taxpayer funds to an industry who along with the unions promised employees wages, benefits and pensions that can't be met.
The party is over! And the workers in the auto industry ought to consider themselves lucky that for the past 3-4 decades they have been able to continue down the path of destructive policies without noticing the future devastation that would be caused and they are now living it. It has now caught up to the companies, workers and union bosses.
The current structures and policies have failed because they aren't competitive with the other manufacturers within the same industry. The unions should have a seat at the table and should restructure their workforce pay, compensation and benefits package to save the employees which they claim to be looking out for.
The interview below causes me great pains to hear a congressman state that the funding bailout is NOT OUR MONEY. I suppose this is one of the reasons that this congressman won't be back in the next congress as he wasn't reelected.
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